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care ratings limited (534804) ✌️【Investment Tools】✌️ Free real-time stock market data, professional analysis, and expert insights to help you plan the best investment strategy. Get ahead of the competition with expert predictions on market trends. The Biden administration on Friday targeted Russia’s energy sector, including its oil industry, with some of its harshest sanctions to date meant to cut off funding forMoscow’s war against Ukraine.

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US senior administration officials said they want to leave Kyiv – and the incoming Trump administration – with the strongest possible hand for potential negotiations. Those officials expressed hope that the next administration would maintain and enforce the sanctions, despite previous skepticism from some Trump officials about the effectiveness of such measures.

care ratings limited (534804) ✌️【Investment Tools】✌️ Gain access to professional investment advice, free market trend analysis, and real-time stock market data. Make informed decisions and unlock the full potential of your investments with expert predictions and guidance. The new sanctions against “the Kremlin’s largest and most important source of revenue” hit hundreds of targets, including two of Russia’s largest oil companies: Public Joint Stock Company Gazprom Neft and Surgutneftegas.

care ratings limited (534804) ✌️【Investment Tools】✌️ Precise AI-powered predictions and market insights to guide your stock selection. Use real-time market data, futures trends, and stock indices to make strategic investment decisions for long-term profitability. The sanctions also target nearly 200 oil-carrying vessels, many of which are accused of being part of the so-called “shadow fleet” that works to evade sanctions, as well as oil traders and energy officials. They also go after Russia’s liquified natural gas (LNG) production and export.

“We expect our actions to cost Russia upwards of billions of dollars per month,” a senior administration official said.

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“These sanctions, in addition to the actions we’ve taken over the last several weeks, help put Ukraine in a position in which they have the ability to work with the incoming administration to try and find a just peace,” a second senior administration official said.

On Thursday, Trump reiterated his desire to end the war in Ukraine, saying that Putin “wants to meet, and we’re setting it up.”

“President Putin wants to meet — he’s said that even publicly — and we have to get that war over with. That’s a bloody mess,” he said.

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“Russia is going to make every effort to circumvent these sanctions. It’s inevitable,” the first official said.

“But circumvention is not costless. Russia has had a constant need to adapt and reorient its supply chains. That creates inefficiency. It creates uncertainty. It creates complexity. So our sanctions are like pounds of sand into the gears of Russia’s war machine,” they said.

Friday’s measures do not have secondary sanctions against specific countries, officials said. China and India have been top importers of Russian oil throughout the war in Ukraine.

Officials argued that they waited until the waning days of the administration to impose the sanctions in part because of the state of the global oil market and the potential impact on the US economy.

care ratings limited (534804) ✌️【Investment Tools】✌️ Free access to global stock market data, with real-time updates on indices, futures, and commodities. Make informed investment decisions with the help of expert advisors and accurate stock trend predictions. Russia’s invasion of Ukraine in early 2022 sparked fears of major supply disruptions from one of the world’s leading producers. Oil prices spiked to as high as $130 a barrel in March 2022, contributing to the inflation crisis across the US economy and pushing gasoline prices to all-time highs.

“During much of this war, global supplies were tight and at risk of falling short of demand,” the first senior administration official explained, noting that would have likely increased revenues to Russia “while raising prices at the gas pump for families in the United States and across the world.”

care ratings limited (534804) ✌️【Investment Tools】✌️ Accurate stock market predictions with real-time stock indices, futures data, and global market trend analysis. Achieve stable growth and avoid losses by staying ahead with our expert recommendations. The United States is producing more oil than any nation in world history, forcing OPEC to dial back supply. Oil prices have been relatively subdued, in part because of record-shattering US production.

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US crude jumped 4% to nearly $77 a barrel. Brent crude, the world benchmark, advanced 3.7% to about $80 a barrel.

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